1INCH/USD - Approaching apex, time to decide!
1INCH is quickly approaching the blue apex of this formation. I expect price to soon give us a reaction.
We have a good support just under current price at $3.5 which would also present a good buy opportunity. On the other hand, if we breakout of this apex and go higher, we should find some resistance at $5. Then ATH is next.
Best to wait for confirmation before jumping in as this could go either way, but I lean bullish since the overall market remains very bullish so long as BTC does not drop out of the blue.
The indicators on 4h are a bit bearish, but I expect us to find support above $3.5 and so long that holds, we will turn bullish on higher timeframes which will allow us to gather sufficient momentum to go higher.
For now, wait for price to lead the way and enter once we have a breakout. If you are bullish, buying support is a good idea.
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We have a good support just under current price at $3.5 which would also present a good buy opportunity. On the other hand, if we breakout of this apex and go higher, we should find some resistance at $5. Then ATH is next.
Best to wait for confirmation before jumping in as this could go either way, but I lean bullish since the overall market remains very bullish so long as BTC does not drop out of the blue.
The indicators on 4h are a bit bearish, but I expect us to find support above $3.5 and so long that holds, we will turn bullish on higher timeframes which will allow us to gather sufficient momentum to go higher.
For now, wait for price to lead the way and enter once we have a breakout. If you are bullish, buying support is a good idea.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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